Stock market today: Nifty50 and BSE Sensex closed Monday in red, as fresh geopolitical tensions weigh on sentiment, following the collapse of US-Iran peace talks and a sharp rise in oil prices. However, markets recovered sharply from intraday lows. Nifty50 ended the day at 23,842.65, down 208 points or 0.86%. BSE Sensex closed at 76,847.57, down 703 points or 0.91%.Vinod Nair, Head of Research, Geojit Investments Limited says, “Markets continue to derive limited support from last week’s ceasefire framework, which remains intact for now and is encouraging selective buying interest along with a buy-on-dips approach. This comes despite an initial negative reaction to the breakdown of US–Iran peace talks and the announcement of a US naval blockade in the Strait of Hormuz, which pushed crude prices above $100/bbl. Elevated oil prices are raising concerns around inflation, currency stability, and broader macro balances, thereby weighing on overall sentiment.”“On the domestic front, the Q4 earnings season is now underway, leading to stock-specific activity, although overall risk appetite remains cautious amid global uncertainty. While the immediate impact on Q4 earnings is expected to be manageable, prolonged Middle East tensions could have more meaningful implications for Q1FY27. Volatility is likely to remain elevated, with markets closely tracking geopolitical developments alongside earnings quality and management commentary,” he says.Meanwhile, Ooil prices climbed sharply on Monday while equity markets declined after negotiations between the United States and Iran collapsed and Donald Trump announced a blockade of the strategically vital Strait of Hormuz, heightening concerns over energy supplies from the Middle East.Talks held over the weekend in Islamabad broke down, with the US delegation, led by Vice President JD Vance, blaming Iran for refusing to abandon its nuclear ambitions. Tehran, in turn, criticised the US approach, calling it “maximalism, shifting goalposts, and blockade”.The setback has dented expectations of an early resolution to the six-week conflict, which has already driven crude prices higher, added to inflationary pressures and unsettled the global economy.After falling last week following a temporary ceasefire agreement, oil prices rebounded strongly, rising more than eight percent during Monday’s session, with both major benchmarks crossing the $100 per barrel mark.Global equity markets reacted negatively. Stocks declined across Tokyo, Hong Kong, Seoul, Sydney, Mumbai, Singapore, Taipei and Jakarta, while Shanghai managed to post a marginal gain. European markets, including London, Paris and Frankfurt, also traded lower.In contrast, Hungarian equities moved higher, with shares surging more than three percent after conservative leader Peter Magyar secured a decisive victory in parliamentary elections, ending Viktor Orban’s 16-year tenure as prime minister.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)